Workers’ Compensation Coverage and Stop Gap Insurance

In some industries, taking out a policy for workers’ compensation is quite straightforward. Unfortunately, this is not the case across all business fields. When you operate a business in a niche industry like staffing, it can create a number of unique complications when it comes to what qualifies as acceptable coverage. To protect your assets and those who fall under your employ, you absolutely need to learn more about the various options in front of you. Take a look at these points to get a better idea.

What Is Stop Gap Insurance?

Most of the details of what qualifies as appropriate insurance will come down to the state in which your business operates. For example, monopolistic states do not typically offer insurance solutions that fully cover the needs of the business. In order to stay protected, stop gap liability coverage is required. This type of insurance comes into play in the event that an employer does not adequately provide a safe and healthy environment for the staff to work. This includes bodily injury and disease not detailed in a standard workers’ compensation plan. Other points to consider include:

  • Claims based on each individual accident
  • Aggregation of disease policy
  • Individual policies for each employee

Understand the Options

By taking time to understand a few key points in advance, you will have a lot more luck with taking out appropriate insurance for your business. Review your options and obtain the knowledge you need to see the success you desire.